Russian stocks may rising slightly on dovish Fed Chair statement

MOSCOW, Jul 14 (PRIME) -- Russian stocks may grow a little at Friday opening on the back of a statement by U.S. Federal Reserve System (Fed) Chairwoman Janet Yellen perceived by investors as a hint at unwillingness to raise the key rate, analysts said.

“Continuation of increase is possible today at the start of the trade,” Olma senior analyst Anton Startsev said.

Yellen raised concerns about inflation at a Fed meeting on Thursday. According to Startsev, market participants saw the statement as a diminished readiness to raise the key rate, which is positive for developing markets.

Oleg Shagov, head of investment company Solid’s research department, said that the ultimate influence of key external factors that have a significant influence on the Russian financial market is close to neutral because Brent oil futures have consolidated above U.S. $48 per barrel, and the global market dynamics does not provide strong stimuli to the Russian market.

The MICEX is expected to open at 1,959 and can remain on the level, Shagov said.

Novolipetsk Steel (NLMK) and Dixy are to publish operating results for April–June, which is expected to be key corporate releases. PhosAgro, Polyus and Detsky Mir are to see ex-dividend gaps, he said.

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